Wrapped Bitcoin, Bitcoin BEP-20 or RBTC?

[Abiky]

There are many tokens issued on smart contract platforms which are backed entirely by Bitcoin. You can exchange them anytime to Bitcoin (and vice versa) at a 1:1 ratio. This is good, because you can use Bitcoin for decentralized applications without the need to use another cryptocurrency. Blazing-fast transactions and cheap fees (depending on the Blockchain in question) makes the Bitcoin-backed token suitable for "De-Fi".

Now, it's a matter of time which of the Bitcoin-backed tokens will gain massive traction in the mainstream world. Will it be Wrapped Bitcoin, Bitcoin on Binance Chain (BEP-20) or RBTC? So, far WBTC is in the lead with a lot of liquidity on the market. But it's not a convenient solution for "De-Fi" because of the high gas fees and slow transaction confirmation times on the ETH blockchain. It seems to me that Bitcoin (BEP-20) on Binance Chain is a better choice (although it's not as popular as WBTC).

Which of the aforementioned tokens you think is best? Your input will be greatly appreciated. Thanks.

[john1010]

There are many tokens issued on smart contract platforms which are backed entirely by Bitcoin. You can exchange them anytime to Bitcoin (and vice versa) at a 1:1 ratio. This is good, because you can use Bitcoin for decentralized applications without the need to use another cryptocurrency. Blazing-fast transactions and cheap fees (depending on the Blockchain in question) makes the Bitcoin-backed token suitable for "De-Fi".

Now, it's a matter of time which of the Bitcoin-backed tokens will gain massive traction in the mainstream world. Will it be Wrapped Bitcoin, Bitcoin on Binance Chain (BEP-20) or RBTC? So, far WBTC is in the lead with a lot of liquidity on the market. But it's not a convenient solution for "De-Fi" because of the high gas fees and slow transaction confirmation times on the ETH blockchain. It seems to me that Bitcoin (BEP-20) on Binance Chain is a better choice (although it's not as popular as WBTC).

Which of the aforementioned tokens you think is best? Your input will be greatly appreciated. Thanks.

I'll always go to the smallest and cheapest transaction fee, because every expensive fee that we pay in one's network is a valuable money enough to meet our daily needs and to feed our family, so what ever it is, I always find the good one with a cheaper fees.

[cryptoaddictchie]

It seems to me that Bitcoin (BEP-20) on Binance Chain is a better choice (although it's not as popular as WBTC).

Which of the aforementioned tokens you think is best? Your input will be greatly appreciated. Thanks.

For me the best one is the one that has supported by many exchanges. Bep20 btc is probably only on binance and pancakeswap dex. But I think wbtc has been used my some exchange and majority of dexes. For me the availability is much more convenient and more useful. I like bep20 cause of cheap gas, but eth network seems improving now so I guess wbtc is still good for me.

[masterrex]

There are many tokens issued on smart contract platforms which are backed entirely by Bitcoin. You can exchange them anytime to Bitcoin (and vice versa) at a 1:1 ratio. This is good, because you can use Bitcoin for decentralized applications without the need to use another cryptocurrency. Blazing-fast transactions and cheap fees (depending on the Blockchain in question) makes the Bitcoin-backed token suitable for "De-Fi".

Now, it's a matter of time which of the Bitcoin-backed tokens will gain massive traction in the mainstream world. Will it be Wrapped Bitcoin, Bitcoin on Binance Chain (BEP-20) or RBTC? So, far WBTC is in the lead with a lot of liquidity on the market. But it's not a convenient solution for "De-Fi" because of the high gas fees and slow transaction confirmation times on the ETH blockchain. It seems to me that Bitcoin (BEP-20) on Binance Chain is a better choice (although it's not as popular as WBTC).

Which of the aforementioned tokens you think is best? Your input will be greatly appreciated. Thanks.

I think both are good but have their own weaknesses, The wrapped Bitcoin or WBTC is an ERC20 token running on Ethereum blockchain which has a huge transaction fee especially if the Network is very congested. While RBTC on Binance Smart Chain has cheaper transaction fees and faster transaction but it's not that popular compared to the Wrapped Bitcoin (WBTC) so Both have advantages and disadvantages But for me, If I will choose, I will go with RBTC as long as the Ethereum Gas problem will not be fixed.

[junkerr]

for now, the one that gets a lot of attention is of course the WBTC. as you said, it's because the market capitalization is bigger than the others.
but in the future, I think RBTC can also play an important role in the market. especially for DeFi. such as a DeFi project with an already developed RSK network. Sovryn supports the growth of RBTC. their first token sale was a huge success. and now they are also doing sales for projects with other RSK networks. we will wait for what the results will be. because it all depends on market acceptance of the use of BTC, WBTC, or RBTC.

[Bttzed03]

~ Which of the aforementioned tokens you think is best?

This depends on the network you usually use. Ethereum users would obviously prefer WBTC and the BEP-20 version for BSC users. If you have no problems using both networks, you'll probably think of them as equal.

[Hughes_Ryan]

I like the fresh and special defi on the original chain to bitcoin.  Gas is cheap, transaction is fast, although still not as cheap as polygon it is easily accepted by the community -> That is RSK - Lately I have certainly noticed the appeal in Sovryn, all in Sov is perfect to be  to be successful, that doesn't have to be so quick.  The bridges have been leveled, but importantly, Rbtc/Btc it needs to be completed soon when enough volume and user base are available.  The problem with RSK/ Sov is just a matter of patience, enough time to understand.

[Kena Banned]

There are many tokens issued on smart contract platforms which are backed entirely by Bitcoin. You can exchange them anytime to Bitcoin (and vice versa) at a 1:1 ratio. This is good, because you can use Bitcoin for decentralized applications without the need to use another cryptocurrency. Blazing-fast transactions and cheap fees (depending on the Blockchain in question) makes the Bitcoin-backed token suitable for "De-Fi".

Now, it's a matter of time which of the Bitcoin-backed tokens will gain massive traction in the mainstream world. Will it be Wrapped Bitcoin, Bitcoin on Binance Chain (BEP-20) or RBTC? So, far WBTC is in the lead with a lot of liquidity on the market. But it's not a convenient solution for "De-Fi" because of the high gas fees and slow transaction confirmation times on the ETH blockchain. It seems to me that Bitcoin (BEP-20) on Binance Chain is a better choice (although it's not as popular as WBTC).

Which of the aforementioned tokens you think is best? Your input will be greatly appreciated. Thanks.

I never use any Pegged Bitcoin but i didnt think theres better one since the comparison is have difference network, so i mean if u want to use different network u need to have different token isnt it?
But if i need to use, BEP20 BTC could be better since the transaction fee is much cheaper than BTC while rBTC have not much liquidity.

[TastyChillySauce00]

When it comes to tokenized bitcoin like these, liquidity is all what matters, I mean most of people uses these tokenized bitcoin mainly for interacting with defi and I doubt anyone gonna hold it for long so security is not really a concern, so far the best option is WBTC as you mentioned but if anyone happens to want to hold this kind of token for a long term, then they should prefer BEP-20 BTC after all it's issued by binance and that company surely have that much amount to provide the real btc for pegging.

[bussybuddy]

Depending on the use case, on which ecosystem needs it. I have tested them on both different platforms and I have not noticed much difference between them, maybe just the difference in fees.

[TWW]

BTC BEP-20 has an ecosystem that is also strong due to the huge support from the binance exchange.
WBTC we know how to also have big caps as the OP said.
but with RBTC, the RSK network developed in the DeFi project as far as I know is only one project. Sovryn adopts the RSK ecosystem which has very low transaction fees than BTC transactions.
in the case of the DeFi project, I think RBTC has a pretty good chance of getting a better market. SOV tokens are gaining enthusiasm from the market very well. this will probably continue for the development of other projects in the RSK network.

[bitkanu]

Depending on the use case, on which ecosystem needs it. I have tested them on both different platforms and I have not noticed much difference between them, maybe just the difference in fees.

The purpose of those coins are the same to make the tokenized of bitcoin and this to make bitcoin will be easily used on its platform and it will be very different with the bitcoin native chain that is very slow at this moment.
that's why some developers created a token that backed by bitcoin to give easiest way for people on those platforms to use it,
There must not be any further discussion about this because these tokens the same

[lenovop-70]

Others can choose any kind of it, its equal ratio, so it is not about value and popularity, its depend on what we need for, and for me personally, same with what thread starter said,  BEP - 20 still the best with cheap gas price and speed transaction on it. Mostly what i do daily is around binance and trust wallet actually.

[Vishnu.Reang]

Rather than selecting the token based on lower transaction fee and other parameters, I would prioritize the safety aspect. And in this case I would go with Bitcoin BEP2, because it is issued by one of the most reputed cryptocurrency exchanges (Binance). Wrapped Bitcoin is issued by BitGo and therefore I would consider them as reliable as well. Also, the WBTC protocol is maintained by the DAO, which adds to the security of this token. Now coming to RBTC, I am really confused. Because I don't know much about it.

[Abiky]

For me the best one is the one that has supported by many exchanges. Bep20 btc is probably only on binance and pancakeswap dex. But I think wbtc has been used my some exchange and majority of dexes. For me the availability is much more convenient and more useful. I like bep20 cause of cheap gas, but eth network seems improving now so I guess wbtc is still good for me.

It looks like Wrapped Bitcoin is the most widely-adopted token by crypto exchanges. Liquidity is high, and there are many trading pairs on the market. But the high fees on the ETH blockchain is what kills it. Fortunately, fees have declined on the Ethereum blockchain. With ETH 2.0 and Sharding, high fees will become a thing of the past. There's room for growth for other alternatives as not everyone uses a single Blockchain network for everything. The more Bitcoin-pegged tokens there are, the better. How long will these tokens last, is an excellent question. Everything will depend on mainstream adoption above all else. As long as Wrapped Bitcoin, Bitcoin BEP-20, and RBTC have demand on the market, nothing else matters. Just my opinion

[tsaroz]

Tokens are wrapped basically to be used for trading on the DEFIs of specific network. We can trade BTC on ETH or BSC defi but their wrapped counterpart could be traded for coins or tokens. Wrapped bitcoin are token issued for bitcoin frozen on specific places. Wrapped coins sometimes might be useful for withdrawing from an exchange to other or to wallet. Otherwise there are no specific benefit of using them on centralized exchange.

[Ucy]

As long as people don't see them as real Bitcoin, and the "wrappers" don't take advantage of this to inflate the wrapped bitcoins and weaken the deflationary feature of the real Bitcoin
It's better to use the real Bitcoin or use token backed bitcoin that's as decentralized/secure (or more decentralized/secure) than Bitcoin.
 It's not a good idea to have less of both for users of Bitcoin backed tokens.. unless the users run full nodes , and are also able to transfer the data associated with Bitcoin backed tokens back to its original Bitcoin blockchain/system.
The wrap btc and similar services should be used with caution